The 5 Most Energy Abundant Countrieshttp://www.fool.com/investing/general/2013/05/28/the-5-most-energy-abundant-countries.aspx Tyler Crowe
May 28, 2013
Let's play the word association game!
I will name the three most used fossil fuels and you tell me the first country that comes to mind
For me, the three countries that came to mind were (1) Saudi Arabia, (2) Russia, and (3) China. Whenever we talk about these types of fuel, these three always seem to be the first to come to mind because they are the largest producers. Overall, though, which of these countries has the most energy?
Obviously, not all energy sources were created equal, so let's even the playing field the best way possible by evaluating the country on its total thermal generation capacity, or BTU equivalency. The data for this was the most recent value given from BP's World Statistical Review of World Energy 2012 and is measured in quadrillion BTU. For a little perspective, one quadrillion BTU is about 173 million barrels of oil, enough to fuel American oil demand for 9.5 days.
5. Venezuela: 1,893.89 quadrillion BTU
Even though the country has so much oil, it has struggled to keep up production growth and has asked for outside help. This week, Venezuela has signed financing deals with Chevron (NYSE: CVX), Schlumberger (NYSE: SLB), and Russia's Rosneft that will total $5.6 to expand production. The country hopes to increase production from 3 to 5 million barrels per day by 2015.
4. Iran: 2050.17 quadrillion BTU
In spite of tough sanctions on oil exports from Iran, China has been a big client. China imports about 500,000 barrels per day. It is far and away Iran's largest client.
3. China: 3055.17 quadrillion BTU
The massive hunger for coal from China is not only driving its domestic market but has a profound effect on the U.S. market as well. Arch Coal (NYSE: ACI) hopes to quadruple exports by 2020, and Alpha Natural Resources (NYSE: ANR) currently has the capacity to double its exports.
2. Russia: 6041.28 quadrillion BTU